Wed06282017

LAST_UPDATEFri, 30 Jun 2017 8am

June 28: RM Opens At 4.28 Against USD

Following the Hari Raya Aidilfitri break, ringgit was quoted at 4.2840/2880 against USD. Pix by ZULFADHLI ZULKIFLI.KUALA LUMPUR: The ringgit opened higher against the US dollar today supported by improved crude oil prices, dealers said. 

Read more: June 28: RM Opens At 4.28 Against USD

National Carmakers Shift To Top Gear For Smoother Drive

Filepic: KualaLumpurPost

Kuala Lumpur – Malaysia’s car industry is set for a smoother drive with both national carmakers, Proton Holdings Bhd and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), shifting to top gear to become more robust and competitive.

Read more: National Carmakers Shift To Top Gear For Smoother Drive

Toshiba To Meet Shareholders With No Chip Unit Deal Signed

Japan's Toshiba Corp (6502.T) is expected to face the wrath of shareholders at its annual meeting on Wednesday after failing to sign a deal to sell its flash memory chip unit by a self-imposed deadline. 

Read more: Toshiba To Meet Shareholders With No Chip Unit Deal Signed

In Disaster's Wake, BP Doubles Down On Deepwater Despite Surging Shale

Pic: Reuters

About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Texas rig can pump in a year.

Read more: In Disaster's Wake, BP Doubles Down On Deepwater Despite Surging Shale

George Soros' Eldest Son To Resign As President Of Soros Fund

Pic: Reuters

Robert Soros, the eldest son of George Soros, is stepping down as deputy chairman and president of Soros Fund Management, a spokesman for the fund told Reuters.

Read more: George Soros' Eldest Son To Resign As President Of Soros Fund

M'sian Companies Ink 4 MOUs Over USD50mil At Astana Expo 2017

Pic: NST

ASTANA: Malaysia has signed four memorandum of understanding (MOUs) worth over USD50 million this week at the Astana Expo 2017.

Read more: M'sian Companies Ink 4 MOUs Over USD50mil At Astana Expo 2017

China's Geely Buys Big Stakes In Proton, Lotus For Discounted Price Of US$235 Mil

Pic: Asia Nikkei

KUALA LUMPUR -- Chinese automaker Zhejiang Geely Holding Group agreed on Friday to purchase stakes of 49.9% in Proton Holdings of Malaysia and 51% in Lotus of the U.K., both owned by Malaysian automotive group DRB-Hicom, for a total of $235 million.

Read more: China's Geely Buys Big Stakes In Proton, Lotus For Discounted Price Of US$235 Mil

Can China’s Central Bank Mint An Answer To Bitcoin?

Pic: South China Morning PostThe love-hate relationship of China’s central bank with digital money shows no signs of resolving soon, as investors continue to back the industry leading bitcoin while Beijing lays the foundation for its own sovereign cryptocurrency.

Read more: Can China’s Central Bank Mint An Answer To Bitcoin?

Oil Edges Up, But Set For Worst First Half Performance In 20 Years

Pic: ReutersSINGAPORE: Oil edged up on Friday, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production cuts.

Read more: Oil Edges Up, But Set For Worst First Half Performance In 20 Years

Affin Bank, Affin Islamic Appoint New Chairman

Pic: Bernama

KUALA LUMPUR: Affin Bank Bhd has appointed Gen (R) Tan Sri Dr Mohd Zahidi Zainuddin as non-independent non-executive Chairman with effect from today.

Read more: Affin Bank, Affin Islamic Appoint New Chairman